About: Eurogroup
Eurogroup fails to progress on economic response to pandemic
After a 16-hour teleconference that concluded on Wednesday morning (8 April), eurozone finance ministers failed to find an agreement on the economic package to tackle the economic impact of the coronavirus.
EU ministers to agree virus rescue plan, not ‘coronabonds’
EU countries are nearing an economic rescue plan for European countries worst hit by the coronavirus outbreak, sources said on Monday (6 April), but not at the level of ambition called for by Italy and Spain.
Von der Leyen: EU budget should be the Marshall plan we lay out together
The EU's next long-term budget should be a key instrument in the recovery plan to confront the huge economic consequences of the COVID-19 crisis, European Commission President Ursula von der Leyen said on Thursday (2 April).
Eurogroup to discuss EU-wide unemployment reinsurance scheme
The European Commission is planning to present to EU finance ministers next week its pan-European unemployment reinsurance scheme proposal to support the most affected countries by the coronavirus.
Brussels seeks ‘consensual’ economic response to COVID-19 crisis, shifting away from coronabonds
With "all options on the table", European Commission president Ursula Von Der Leyen is looking at a consensual response among member states to the economic fallout from the COVID-19 crisis, her spokesman said on Monday (30 March), shifting away from controversial debt mutualisation advocated by Italy.
Eurogroup nearing agreement to use bailout fund against pandemic
Countries of the euro area are close to an agreement to use the European Stability Mechanism to provide credit lines of up to 2% of their GDP to tackle the consequences of the coronavirus COVID-19.
Euro area countries mobilise around €120 billion against coronavirus
Euro area countries have mobilised around 1% of their GDP (€120 billion) to fight against the economic fallout from the coronavirus but continued to disagree over deploying a joint fiscal stimulus, after a joint teleconference held on Monday (16 March).
MEPs step up pressure to adopt bolder measures against coronavirus
Members of the European Parliament called on member states and EU institutions to adopt a more ambitious package to address the economic fallout of the coronavirus COVID-19, as the European economy is expected to fall into recession this year due to the pandemic.
Eurogroup chief: EU living ‘war-like’ conditions, long struggle lies ahead
Eurogroup chief Mario Centeno warned on Monday (16 March) that under the coronavirus outbreak the European economy is experiencing the equivalent of a war, and that a long struggle lies ahead.
ECB approves more money, seeks strong fiscal stimulus versus coronavirus
The ECB decided on Thursday to inject more money into the real economy to combat the economic fallout of coronavirus. As markets continued to plunge, the bank's president Christine Lagarde stepped up pressure on member states to pass an “ambitious and collective” fiscal stimulus.
EU finance ministers hold fire on combating coronavirus
EU finance ministers promised on Wednesday (4 March) a coordinated response to address the economic impact of coronavirus but postponed any decision at least until their formal meeting in mid-March.
Centeno: ‘I do see good reasons to support green investment under the fiscal rules’
Speaking to EURACTIV in Davos, Eurogroup President Mario Centeno remained hopeful about the eurozone's stalled reform process, saying there are “good reasons” to support ‘green’ investment as part of a broader review of EU fiscal rules due later this year.
Conte buys Italy’s government more time over eurozone bailout fund
Italy's prime minister Giuseppe Conte claimed victory on Friday (13 December), after changing the wording of the Euro summit's conclusion postponing a final agreement on the reform of the eurozone bailout fund.
Eurogroup fails to move forward on eurozone reform
EU finance ministers failed to reach an agreement on Wednesday (4 December) on the reform of the EU's bailout fund and move to political discussions on the European Deposit Insurance Scheme ahead of the Euro summit next week.
Ministers set to advance Eurozone reform amid political turmoil in Italy and Germany
EU ministers gather Wednesday (4 December) in a bid to chart progress on the Eurozone reform ahead of the EU Council summit next week. However, recent political developments in Rome and Berlin may hinder talks on the matter.
German plan brings ‘new impetus’ to banking union, Eurogroup says
Finance ministers on Thursday (7 November) welcomed a German initiative to unblock proposals for a common bank deposit guarantee scheme in the eurozone, but questioned Berlin's request to ask additional capital buffers in return for banks holding sovereign debt.
Eurozone sharpens up new anti-shock fund
Finance ministers of the 19-member euro area reached agreement late on Wednesday (9 October) on the details of a "budgetary instrument" for the eurozone, including stronger measures to support countries hit by a sudden economic shock.
Growing pressure on eurozone economies to launch stimulus
The European Commission and some member states including France followed the ECB in pressing Germany and other countries with fiscal space to invest more to counter the risk of recession.
Europeans tell Germany to spend more to boost euro economy
European ministers and institutions told Germany on Monday (8 July) to increase public spending in order to support the ailing growth in the eurozone, as decision-makers and investors see a growing risk of recession looming on the horizon.
Stabilisation mechanism in induced coma after EU leaders’ meeting
EU leaders failed to inject further ambition to a Eurogroup deal on watered-down reforms of the Economic and Monetary Union, including a budgetary instrument for the eurozone, at the Euro summit on Friday (21 June).
No agreement on euro budgetary tool- ministers send ‘hot potato’ back to leaders
EU finance ministers failed to reach an agreement in the early hours of Friday (14 June) on an anti-shock instrument to shield the euro, as they continued to clash over almost every feature on the agenda, including the source of funding.
Finance ministers press Italy to stick to EU fiscal rules
EU finance ministers told the Italian government on Thursday (13 June) to meet its fiscal obligations in order to reduce its high debt, with the European Commission insisting on “substantial corrections” to rein in public spending.
Eurogroup to nudge forward EMU reform before next week’s EU summit
EU finance ministers will try to close a deal on deepening the Economic and Monetary Union, including a tentative new budget for the eurozone, during the Eurogroup meeting on Thursday (13 June) in an inclusive format.